President Energy provides prospective resources update

President announces a significant increase in Reserves on its 100% owned and operated Puesto Guardian Area, with the issue of a new independent statement of Crude Oil Reserves carried out by the international petroleum consultancy, Gaffney, Cline & Associates which supersedes the previous 2014 statement of GCA.

In addition, President has completed further geological studies on its Paleozoic deep gas/condensate prospect at the Martinez Del Tineo field on the Concession and on associated prospects at President's adjacent Matorras Licence and announces significantly increased management estimates of the Prospective Resources compared with the GCA assessment published in January 2012.

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